Thomas "Hitman" Hearns Net Worth

What is Thomas "Hitman" Hearns' net worth?

Thomas Hearns is an American former professional boxer who has a net worth of $450 thousand.

Thomas Hearns competed from 1977 to 2006. Nicknamed "The Hitman," he became the first boxer ever to win world titles in five different weight divisions: welterweight, light middleweight, middleweight, super middleweight, and light heavyweight. Among his other achievements, Hearns was named Fighter of the Year by the Ring magazine in 1980 and 1984.

Hearns vs. Leonard Earnings

In 1981, Hearns was carrying a 32-0 professional record when he agreed to fight Sugar Ray Leonard. He ended up suffering his first professional loss. On the plus side, Thomas and Sugar Ray earned a combined $17 million for the fight, the same as $50 million in today's dollars. It was the largest purse in sports history at that point.

Financial Problems

In 2010, Thomas was forced to auction off a number of possessions after reportedly accruing around $450,000 debt to the IRS. Marvin would later explain that he accrued the debt after being overly generous towards his large extended family. Items in the auction included a beloved 1957 Chevy, three boats, a motorcycle and memorabilia. He fully satisfied the debt.

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Early Life

Thomas Hearns was born on October 18, 1958 in Grand Junction, Tennessee as the youngest of three children from his mother Lois's first marriage. From her second marriage, he acquired six more siblings. When Hearns was five, he moved with his family to Detroit, Michigan.

Amateur Career

As an amateur boxer, Hearns compiled a record of 155-8. In his last year as an amateur in 1977, he won the National Amateur Athletic Union Light Welterweight Championship and the National Golden Gloves Light Welterweight Championship.

Professional Career, 1977-1989

Hearns started his professional boxing career under the aegis of trainer Emanuel Steward. It was Steward who transformed him into one of the greatest punchers in the history of the sport. Over his first few years as a professional, Hearns went undefeated, carrying a 28-0 record into a world title match against Pipino Cuevas in 1980. Hearns continued his dominance in the bout, ending Cuevas's four-year reign by defeating him in the second round via TKO. That year, Hearns was named Fighter of the Year by the Ring magazine. Coming off of that incredible victory, he went up against WBC champion Sugar Ray Leonard in 1981. Ultimately, Hearns suffered his first professional loss at the hands of Leonard, who stopped him in the 14th round. The next year, he moved up in weight and won the WBC super welterweight title by beating three-time world champion Wilfred Benítez. Hearns went on to successfully defend the title against Luigi Minchillo, Roberto Durán, Fred Hutchings, and Mark Medal. His win against Durán was especially notable, as he became the first boxer to KO the Panamanian fighter. For this achievement, Hearns won his second Fighter of the Year honor from the Ring magazine.

In 1985, Hearns went into the middleweight division to challenge champion Marvin Hagler. The bout became known as one of the greatest in boxing history, elevating both fighters to the status of superstars. After a brutal back-and-forth for three rounds, during which Hearns broke his right hand, the fight had to be stopped when Hearns was unable to continue. He made a comeback the following year when he beat James Shuler with a first-round KO. Hearns continued his success in 1987, scoring six knockdowns against Dennis Andries to win the WBC light heavyweight title. Later that year, he defeated Juan Roldán to claim the WBC middleweight title. However, in a major upset, Hearns lost that title to Iran Barkley in 1988. He turned his fortunes back around later in the year to win the inaugural WBO super middleweight title against James Kinchen. With that title, Hearns became the first boxer ever to win world titles in five different weight divisions. Closing out the decade, he finally had his rematch with Sugar Ray Leonard; the bout ended in a controversial draw.

Professional Career, 1990-2006

Hearns had arguably his last great bout in 1991 when he challenged the undefeated WBA light heavyweight champion Virgil Hill. It was Hill's 11th and final defense of the title, as Hearns emerged victorious. He went on to lose the title the following year to his former rival Iran Barkley. Hearns continued competing after that, winning his subsequent eight bouts. In late 1998, he had a career highlight fighting Jay Snyder in a match with a rare double knockdown; ultimately, Hearns was able to get up before the count to claim the win. He had another strong year in 1999, beating Nate Miller by unanimous decision to win the IBO cruiserweight title.

Hearns began the 21st century by losing to Uriah Grant. After a competitive first round, he injured his right ankle and was forced to retire. This caused the audience to boo, at which time Hearns took the mic and promised he would be back in the ring. He kept his promise, returning to the ring five years later to beat John Long via TKO. Hearns had his final fight in early 2006 against Shannon Landberg, whom he also defeated via TKO.

Personal Life

With his mother Lois, Hearns has a fight promotion company called Hearns Entertainment. Hearns has a son named Ronald who also boxes.

Hearns resides in Southfield, Michigan, a suburb of Detroit. Due to financial struggles, he had to auction off many of his possessions at the Auction Block in Detroit in 2010. Among the items auctioned were a 1957 Chevy and various collectibles.

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